Stock market today: Dow hits fresh record, stocks close out strong week as inflation cools

Published On Sep 27, 2024, 4:07 PM

U.S. stock markets closed mixed with gains, as the Dow Jones Industrial Average hit a new record, supported by a positive inflation report that suggested cooling price pressures. The S&P 500 turned slightly negative after hitting a record high, whereas the Nasdaq experienced a minor drop. The overall sentiment in the market improved due to favorable GDP data and expectations of potential rate cuts from the Federal Reserve in response to softening inflation readings. Additionally, China’s stimulus efforts boosted investor confidence, particularly benefiting luxury stocks and companies like Alibaba and JD.com.

Stock Forecasts

The positive sentiment in the market, driven by improving inflation reports and expectations of Federal Reserve rate cuts, suggests that stocks with strong fundamentals, particularly in the tech sector, may continue to perform well. Companies like Apple (AAPL) are likely to benefit from these broader market trends and investor confidence.

Costco's decline in stock following mixed earnings visuals indicates potential volatility; however, its strong gold sales offer a buffer. Given the ongoing trends in gold and consumer goods prices, Costco's stock is expected to stabilize but may not see significant upward movement in the short term.

Intel (INTC) is positively impacted by news of potential government funding and interest from other companies regarding acquisitions, which is likely to enhance its stock performance in the near future as investors react favorably to such developments.

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